Prudential Financial Inc. reduced its holdings in shares of LTC Properties Inc (NYSE:LTC) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 64,963 shares of the real estate investment trust’s stock after selling 1,130 shares during the period. Prudential Financial Inc.’s holdings in LTC Properties were worth $2,708,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of LTC. Bank of New York Mellon Corp increased its position in LTC Properties by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 719,459 shares of the real estate investment trust’s stock worth $30,750,000 after buying an additional 3,021 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in LTC Properties in the third quarter worth $4,428,000. Stratos Wealth Partners LTD. purchased a new stake in LTC Properties in the third quarter worth $106,000. Wells Fargo & Company MN increased its position in LTC Properties by 2.2% in the third quarter. Wells Fargo & Company MN now owns 175,742 shares of the real estate investment trust’s stock worth $7,752,000 after buying an additional 3,708 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in LTC Properties by 31.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,147 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 3,636 shares during the last quarter. 75.80% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on LTC. ValuEngine downgraded LTC Properties from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. BMO Capital Markets reiterated a “sell” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Thursday, December 6th. Finally, Royal Bank of Canada reiterated a “sell” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.40.
Shares of NYSE LTC opened at $44.62 on Friday. The firm has a market capitalization of $1.77 billion, a PE ratio of 14.83, a P/E/G ratio of 3.66 and a beta of 0.49. LTC Properties Inc has a fifty-two week low of $34.46 and a fifty-two week high of $48.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 9.97 and a quick ratio of 9.97.
The business also recently declared a monthly dividend, which was paid on Thursday, February 28th. Stockholders of record on Wednesday, February 20th were given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Tuesday, February 19th.
About LTC Properties
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At September 30, 2018, LTC had 199 investments located in 28 states, comprising 103 assisted living communities, 95 skilled nursing centers and 1 behavioral health care hospital.
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